Regulatory approvals, platform integrations, and token standards – these are a few developments from the past week involving digital securities.
SEC Thailand Approves Fraction
Investors in Thailand will soon be able to more easily access investment opportunities in the form of digital securities, as the Thai SEC has awarded Fraction with an ICO Portal License.
The company describes its platform as giving investors the ability to, “…invest, sell and manage fractional ownership of anything from a small stake in a city condominium, beachfront resort or art piece through to managing a private fund, assets and investors.”
Intent on hitting the ground running, Fraction indicates that it has already signed an MOU with the Magnolia Quality development Corporation. This MOU is expected to result in the digitization and fractionalization of ‘iconic’ Thai real estate worth nearly $500 million.
“We are proud to announce the first SEC-regulated unified platform that leverages the blockchain to digitize, list and trade tangible assets. After 3 years of laying the technical foundations and the real world legal structure, we have obtained regulatory approval and can now enable financial inclusion, letting small investors participate in attractive asset classes that used to be previously inaccessible.” – CEO of Fraction, Eka Nirapathpongporn
Vertalo Integrates Planet Wealth
Currently in the midst of hosting the inaugural ‘Digital Assets AND Securities Conference’, Vertalo just announced a new strategic partnership with Planet Wealth – a move taken with the goal of ‘democratizing capital markets’.
This partnership is expected to bring much sought after liquidity to digital securities issued through Vertalo, by allowing for these assets to be traded on Planet Wealth’s ATS platform.
The pair describe the integration as representing, “…the future of private asset and capital markets, a future where private companies can raise funding from investors across the wealth spectrum, manage those assets on digital transfer agent platforms like Vertalo, and subsequently list and trade those assets on broker-dealers and ATS's like Planet Wealth.”
This partnership is multiple years in the making, and is a good step towards building a strong foundation for the digital securities sector – providing FINRA grants its approval.
T-REX Adopted as ERC-3643
First released three years ago, the Token for Regulated Exchanges (T-REX) has just been adopted as an official standard for permissioned tokens. This standard, which is built on Ethereum, is now otherwise known as ERC-3643.
Developed by Tokeny, T-REX is described as a suite of smart contracts which, “…enables the issuance, management and transfer of permissioned tokens”. Furthermore, Tokeny indicates that not only is ERC-3643 interoperable with the wildly popular ERC-20, it allows for easy compliance with regulations.
Tokeny’s Head of Innovation Joachim Lebrun commented on this official adoption, stating,
“It’s been more than three years since we started the development of the T-REX security token protocol. We are extremely excited that the interface has been recognized as ERC3643 and merged into the EIP repository on GitHub. It is now the go-to standard for those issuing security tokens on public blockchains.”